Cetera Investment Advisers Invests $80,000 in Wipro Limited (NYSE:WIT)

Cetera Investment Advisers bought a new stake in shares of Wipro Limited (NYSE:WIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,470 shares of the information technology services provider’s stock, valued at approximately $80,000.

Other hedge funds have also bought and sold shares of the company. Perigon Wealth Management LLC acquired a new stake in shares of Wipro in the fourth quarter worth $61,000. Caprock Group LLC lifted its stake in shares of Wipro by 89.7% in the fourth quarter. Caprock Group LLC now owns 304,396 shares of the information technology services provider’s stock worth $1,078,000 after buying an additional 143,926 shares in the last quarter. SYM FINANCIAL Corp increased its position in Wipro by 118.5% during the fourth quarter. SYM FINANCIAL Corp now owns 31,414 shares of the information technology services provider’s stock worth $111,000 after purchasing an additional 17,036 shares during the last quarter. Greenleaf Trust increased its position in Wipro by 100.0% during the fourth quarter. Greenleaf Trust now owns 181,332 shares of the information technology services provider’s stock worth $642,000 after purchasing an additional 90,666 shares during the last quarter. Finally, Optas LLC increased its position in shares of Wipro by 65.4% during the fourth quarter. Optas LLC now owns 34,513 shares of the information technology services provider’s stock valued at $122,000 after acquiring an additional 13,644 shares during the last quarter. Institutional investors and hedge funds own 2.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WIT shares. Wall Street Zen upgraded shares of Wipro from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Jefferies Financial Group downgraded shares of Wipro from a “hold” rating to an “underperform” rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Wipro Stock Performance

NYSE:WIT opened at $2.87 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. Wipro Limited has a fifty-two week low of $2.58 and a fifty-two week high of $3.79. The stock has a market cap of $30.02 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The firm’s fifty day simple moving average is $2.88 and its 200-day simple moving average is $3.69.

Wipro (NYSE:WIT) last released its quarterly earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $225.66 billion. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Analysts expect that Wipro Limited will post 0.14 earnings per share for the current fiscal year.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.